Chinese miner Jinchuan buys 70% stake in Tiomin Kenya
Chinese mining firm Jinchuan金川集団有限公司 has acquired 70 percent stake in Tiomin Kenya Limited (TKL) in a bid to revive the titanium mining project located in Kenya's coastal region.
A statement from the Canada-based mining firm, Tiomin, received in Nairobi Wednesday, said Jinchuan acquired the controlling equity interest in Tiomin Kenya, a wholly owned subsidiary of Tiomin that owns 100 percent of the Kwale Mineral Sands Project in Kenya.
The investment agreement which was signed on Monday offers Jinchuan a 70 percent stake in Tiomin Kenya Limited, leaving the Canadian parent with 30 percent.
The statement said Jinchuan is expected to immediately invest $25 million into the mining project to offer it the financial muscle it needs to take off.
"Tiomin Resources is pleased to announce that it has taken a significant step forward and signed an investment agreement with Jinchuan Group Limited, one of China's largest companies," the statement said.
The Canadian and Chinese firms hope to mine an average of 330,000 tons of titanium-bearing ilmenite, 77,000 tons of rutile and 37,000 tons of zircon a year from the Kwale Mineral Sands site.
The statement said all net cash flow generated by Kwale will be used initially to repay project debt and thereafter net free cash flow will be distributed pro-rata 70 percent to Jinchuan and 30 percent to Tiomin.
"The transaction is expected to close in about two months and is subject to regulatory and shareholder approval," the statement said.
Jinchuan is China's biggest nickel producer and fourth-largest copper producer.
"Closing this flagship deal, which has had such a long and painful gestation period, will be a key event for Tiomin. We believe that the closing conditions can be met in the next two months," said Robert Jackson, CEO of Tiomin.
He said a 30 percent carried interest in a good project for no further investment is highly valuable to Tiomin particularly given the potential upside of higher commodity prices and exploration success.
"Investors should look at this transaction in the context of the enormous benefit to Tiomin of Jinchuan's ability to obtain project financing to construct the project," Jackson said.
"In addition, closing this transaction with Jinchuan will give Tiomin more flexibility to pursue its strategy of leveraging its strong cash position and management team to find and execute an accretive, company-making transaction."
2009/9/4 SinoCast Daily Business Beat
CNOOC Plans Refining
& Ethylene Project in Shandong
China National Offshore Oil Corporation (CNOOC), the largest offshore oil and gas producer in the country, is planning a 10-million-ton refining and 1-million-ton ethylene complex in Dongying 東営 City, Shandong Province, north China.
By now, the preliminary preparations have been launched for the pre-feasibility study, and the application is expected to be submitted to the National Development and Reform Commission (NDRC), the top macro-economic regulator, within this year.
The complex and supporting equipment will need a total investment of CNY 45 billion, according to an official with the Dongying branch of the NDRC. The oil and gas giant preliminarily plans to locate the project at the Dongying Port Economic Develop Zone.
After the project is completed, the comprehensive crude oil processing capacity of CNOOC will be driven up to nearly 20 million tons in Shandong. Last year, the oil and gas giant acquired two local petrochemical firms like Shandong Haihua Group, and obtained a crude oil processing capacity of about 6 million tons.
Datang builds coal-to-natural gas project in Inner Mongolia 大唐国際発電
Power Generation Co., Ltd. on August 30th began construction on a
and related pipelines at the Hexigten coal and power base, in
Chifeng, Inner Mongolia Autonomous Region.
This project will be built in three phrases with total investment expected to reach RMB25.7 billion. The first phase, to be complete by the end of 2010, will produce 1.3 billion cubic meters of gas a year. The whole project would be complete by 2012.
Construction for Coal-to-SNG project in Inner Mongolia
On Aug.31, 2009, Datang Group started construction for its coal to synthetic natural gas (SNG) project in Keshiketeng (克什克騰), Chifeng (赤峰), Inner Mongolia.
With total investment of RMB 25.7 billion, the designed capacity of this coal based SNG project is 4 billion Nm3/a, about 12 million Nm3/d. It will be conducted by three stages, in the 1st stage by the end of 2010, the SNG capacity will have 1.34 billion Nm3/a; in the 2nd stage by the end of 2011, the SNG capacity will get 2.68 billion Nm3/a; in the 3rd stage by the end of 2012, the SNG capacity will reach 4 billion Nm3/a.
When the project totally startup, besides SNG project, other byproducts of this projects also includes tar 509 kt/a, naphtha 110 kt/a, sulfur 110 kt/a, crude phenol 58 kt/a etc.
This project was approved officially by NDRC in Aug. 20, 2009; it will be operated by Datang International Power Generation Corp. - a subsidiary of China Datang Group. The project will use lignite as feedstock; Datang owns the coal resources nearing this project. The SNG product will be transported by a 360 km pipeline to Beijing for town gas use. The pipeline is also under construction.
According to the data from ASIACHEM, from 2000 to 2008, China’s Natural Gas consumption was growing in an averaged annual rate of nearly 16% while the growth rate of output in the same period was around 13%. In 2008, China consumed in total 77.5 billion Nm3 of natural gas and output only 76 billion Nm3, with the gap of 1.5 billion Nm3 covered by import.
Rhein Chemie Opens New Production Facility in Qingdao
September 8th, 2009
marked the official opening of Rhein Chemie LOA (Qingdao) Ltd.,
the company's new production facility for lubricant additives in
In Qingdao, Rhein Chemie manufactures customized additive formulations for industrial lubricants. These formulations improve performance and service life in industrial applications and help protect the environment.
Merck Acquires Effect Pigments Manufacturer in China
On September 9th, Merck
KGaA announced that it has acquired Suzhou Taizhu Technology
Development Co., Ltd.(Taizhu), a leading supplier of effect
pigments located in Taicang, Jiangsu province, eastern China.
With total revenues of more than Euro 14 million in 2008 and 300 employees, Taizhu is one of the biggest effect pigments companies in the Chinese market.
AstraZeneca China Holds Ground-breaking Ceremony for Zhangjiang Site 上海市張江
On September 9th, 2009, AstraZeneca China held the ground-breaking ceremony for its new site in Zhangjiang High-Tech Park, which is also known as China's medicine valley. Once the construction is completed, AstraZeneca will be based in the Zhangjiang Site and bring the innovation capabilities of Shanghai's modern bioengineering and pharmaceutical industry to new heights by its great collaboration tradition and unique strength in translational science.
Guizhou Crystal Starts up Acetic Acid Project 水晶化工
On September 8th, 2009
Guizhou Crystal Organic Chemical (Group) CO., Ltd. (Guizhou
Crystal) commenced the production of its acetic acid project in
Guiyang of Guizhou province.
The company said this project adopts low pressure carbonyl synthesis process developed by a Japanese enterprise.
With a total investment of around RMB621, the project includes 36 000 t/a acetic acid unit, 30 000 t/a methanol unit, etc.
Guizhou Crystal Chemical Co.,Ltd. was founded on December 30 of 2001 by means of initiating, with the approval of Guizhou People's Government. It is a joint-stock limited company registered in Guizhou Administration for Industry and Commerce, with the registration address of national hi-tech development zone of Wudang district, Guiyang city, Guizhou province.
Main initiators are Guizhou Crystal Organic Chemical(Group) Co.,Ltd. Qingzhen Jingda Investment Co.,Ltd., Guizhou Sanglaite Industrial Trade Co.,Ltd., Guiyang Sanyang Industrial Co.,Ltd., Guizhou Chemical Research Institute and Guangzhou Baiyun Trade Industrial Co.,Ltd.. In 2003, Guiyang State Property Investment Management Company became one of the shareholders with the approval of No. 41 file issued by Guizhou People's Government.
Our company's business scope: wholesale and retail of organic chemicals, coating, pigment, catalyst, auxiliary, additive, adhesive, calcium carbide, acetic acid, polyvinyl alcohol, alcohol(does not contain dangerous articles), vapor, dynamic electricity; export of our own products and technology; import business of raw materials, instruments and meters, mechanical equipment, parts and technology(except those articles and technologies not allowed to be imported and exported by our country).
Clariant Opens Surfactants plant in Zhenjiang 江蘇省鎮江
On September 17th,
Clariant opened a surfactants 界面活性剤 production facility in Zhenjiang,
Jiangsu province, eastern China. The plant, which is fully
operational, has been designed to meet China's growing demand for
surfactants from various sectors such as personal care, paints
and coatings as well as metal working industries.
The new state-of-the-art 50 000 square meter facility has a capacity of more than 22 000 tones per annum. This facility will complement the company's already well-established manufacturing capabilities in the country.
The new plant is part of a USD 100 million investment program Clariant has made in China during the last 18 months. It builds on Clariant’s long experience in Greater China and is core to the company’s commitment to supplying customers in this market. Clariant employs more than 1,300 staff at its laboratories, production facilities and offices in over 13 locations across Greater China.
September 15, 2009
Clariant to Open New
Production Facility in Dayabay China 界面活性剤 エトキシレート
Leading specialty chemical company Clariant today announced it will build an ethoxylation plant in Dayabay, situated south of Guangzhou. The plant will be operational in early 2011 and will enable Clariant to meet increasing demand from the Chinese and wider Asian markets.
The new plant will primarily serve domestic customers for a broad range of applications which are including crop protection, construction, industrial & home care, metal working, textile and paper. The plant will also supply important export markets across Asia.
The 80’000 square meter plant will have a capacity close to 50,000 tones per annum. It will be staffed by locally hired highly skilled teams, which will include senior technical roles. The state-of-the-art plant will use the very latest automation and environmental management technology.
Clariant is among the largest producers of ethoxylates globally and has a leadership position in specialty applications. Ethoxylation is a key technology for Clariant, which the company has developed over the past 50 years. With production sites in Europe, North America and Latin America, Dayabay will be Clariant’s first ethoxylation plant in Asia.
The construction of this new facility is part of a USD 100 million investment program in China, which Clariant has been committed to over the last 18 months. This program includes a plant in Hangzhou for Quinacridone specialty organic pigments, a state-of-theart phosphorus pentoxide plant in Kunming, as well as a new Masterbatches plant and Archroma Center for textiles in Guangzhou. Clariant’s new surfactants production facility which will be inaugurated in Zhenjiang, Eastern China this week, is another milestone in the program.
“Dayabay is a key element of our China growth strategy. It will enable us to further expand our footprint in China and consolidate our position as a leading exthoxylates producer.
It will be built to the highest environmental and production standards and is another sign of our commitment to the Chinese market. We are also very pleased to announce that we have signed a long term supply contract for ethylene oxide with CSPC (CNOOC and Shell Petrochemicals Company Ltd),” said Siegfried Fischer, Executive Committee Member of Clariant, speaking at the groundbreaking ceremony. Clariant has a long history in China and has more than 1,300 people working in laboratories and facilities in over 13 cities.
2009-09-19 China Daily
Glencore likely to get CIC investment
China's $200-billion sovereign wealth fund has added privately-held commodities trader Glencore International AG to its roster of approved investment partners as it deepens its access to global raw material markets, two sources familiar with the matter said.
A source familiar with China Investment Corp's strategy said Glencore and sovereign wealth fund's fixed-income department recently concluded a preliminary "commodities product investment agreement". The source was not able to offer any additional details.
A manager at a trading and investment firm in Asia, which is a client of Glencore, said top management from Glencore visited CIC in Beijing in August and signed a memorandum of understanding in which CIC agreed to invest in Glencore's products or bonds. A CIC spokesman declined to comment.
It was not immediately clear how CIC would work with Glencore, the world's biggest commodities trader, which typically trades its own book. But Glencore also has a derivatives trading venture with Credit Suisse, which has an expanding business offering commodity investment products to customers.
CIC, founded in late 2007 and the youngest major player of the world's sovereign fund families, has set up client-like relationships with many banks and funds already, relying on external asset managers for some investment areas where it is not strong enough to play alone.
For example, CIC committed $800 million in a new $6-billion global Morgan Stanley real estate fund late last year, thereby allowing CIC to become an investor of the fund as well as a client of Morgan Stanley in the real estate investment area.
CIC was also reported by Britain's Independent on Sunday last month to be one of six companies interested in lending cash to Glencore in return for a stake in the trading house.
Commodities is a relatively new investment area for CIC.
香港資本の惠生（南京)化学（Wilson (Nanjing) Chemical）は9月26日、南京市の南京化学工業園で石炭ガス化第二期計画の商業生産を開始した。
能力はCO 300千トン/年、水素 21,000Nm3/h、シンガス11,000Nm3/hで、これに加え、第4四半期には100千トン/年のメタノールが完成する。
なお、第一期計画はCO 300千トン/年、メタノール 200千トン/年となっている。
ガス化に必要な酸素は同工業園にあるAir Products & Chemicals のプラントから供給を受ける。
第一期計画は2007年4月にスタートした。設計は中国天辰工程（China Tianchen Engineering Corp、旧
会社名： LING TIAN （NANJING） FINE CHEMICAL CORPORATION
Starts up Refinery & Ethylene Project in Xinjiang
On Sep. 21, 2009, Dushanzi Petrochemical Company, a subsidiary of PetroChina, started up its large scale complex in Dushanzi, Xinjiang.
This project is a part of strategic cooperation between and China and Kazakhstan. Most of crude oil for the Dushanzi refinery will be sourced from Kazakhstan through a 1,200 km cross-border pipeline, which has been started commercial operation in Jul. 2006. Now, the pipeline can supply 10 million t/a of crude oil to Dushanzi, and in the future the capacity of this pipeline will be double to 20 million t/a
With total investment of RMB 30 billion, the complex includes a new 10 Mt/a refinery and a new 1 Mt/a ethylene cracker. Construction of this project was started in 2005. Now, with the existing 6 Mt/a refinery and 220 kt/a ethylene plant, PetroChina Dushanzi has refining capacity 16 Mt/a and ethylene capacity 1.22 Mt/a.
Main facilities of the new complex as following:
Ethylene 1 Mt/a
HDPE 300 kt/a
All-density PE 600 kt/a
PP 550 kt/a
BTX 600 kt/a
SM 320 kt/a
PS 130 kt/a
EPS 120 kt/a
SBR 100 kt/a
SBS 80 kt/a
スペインと中国のJVのGanzi Atlantic Silicon Industryが9月20日、四川省チベット族自治州の甘孜（Ganzi）で金属シリコンの第一期の起工式を行った。
Ganzi Atlantic Silicon はスペインのSpanish Atlantic Ferroalloyが75%、現地のGanzi Shunda Silicon Industryが25%出資する。
2007年6月にスペインのカルロス国王が参加し「四川ースペイン経済交流」が開催され、その席でSpanish Atlantic FerroalloyのMichel Vilar 社長が四川省に世界最大の金属シリコン工場を建設すると発表、その後立地を探していた。（当時は能力150千トンとしていた）
Atlantic Silicon Kicked off Silicon Project
On September 20th, 2009
Ganzi Atlantic Silicon Industry Co., Ltd. (Atlantic Silicon), the
75/25 JV by a Spain-based Group (Spanish Atlantic
Ferroalloy Limited )
and Ganzi Shunda
Silicon Industry Co., Ltd., laid a foundation for the
construction on the first phase 50 000 t/a of the
100 000 t/a metal silicon project in Kangding county, Ganzi of
Sichuan province. 四川省甘孜（カンゼ）・チベット族自治州
This project has a total investment of Euro 820 million and will be implemented in two phases. The second phase 50 000 t/a metal silicon project and 10 000 t/a polysilicon facility for solar energy will be completed in June 2011, and the whole 100 000 t/a project will be put into operation after the completion of construction on the matching power generating plant in 2013. The whole project is expected to contribute a sales revenue of RMB10 billion for Atlantic Silicon.
metal silicon ケイ石を鉱山から掘削し、還元(Si;純度 98〜99%)
polysilicon 高純度多結晶シリコン 金属シリコンの純度を高めたもの
Spain Planned to Built a World's Largest Silicon Factory in Sichuan
On June 29 at the "China---Sichuan -- Spain Economic Exchanges", 31 Spanish enterprises together with Juan Carlos I, Spanish King took a visit conducted exchanges with 72 enterprises from Sichuan. Among them, Michel Vilar, president of Spanish Atlantic Ferroalloy Limited said Spain would establish the world's largest metal silicon factory in Sichuan Province, with annual output of 150,000 tons and investment of USD150m. It was known that the new factory would be implemented in two phases. Currently the Spanish party was choosing sites in Aba and Mianyang, Sichuan etc. and the sites were expected to be selected by September this year.
Spanish Atlantic Alloy Limited was the world's first large-scale multinational which produced industrial silicon, and its annual output reached 1.5 million tons.